The Tennessee Condominium Act of 2008 and Older Condos and the Power to Assess
September 23, 2013
January 1, 2009, was the start of a new era in Tennessee as it saw a new set of laws regarding condominiums come into effect – the Tennessee Condominium Act of 2008, Tenn. Code § 66-27-101, et seq. (the “Condominium Act”). The Condominium Act, generally, applies to all condominiums created after January 1, 2009. A…
READ MOREAssociations, Bankruptcies, and Non-Dischargeability
September 9, 2013
Assessments are the lifeblood of any association. The money coming in through assessments is what pays to maintain and repair the common areas and common elements for which the association is responsible. These assessments are to be paid by owners of lots and units in the development. Sometimes these owners experience economic difficulties. One of…
READ MOREForeclosures and Priority Issues
August 19, 2013
One of the unfortunate realities of the residential real estate market in the past several years has been foreclosures. A foreclosure is the process by which a secured party recovers a balance due by exercising its interest in secured collateral. Typically, this means that a bank forecloses on a home. In Tennessee, we have deeds…
READ MORECondominium Purchaser Information Requests
July 22, 2013
Recently, we discussed required disclosures related to the sale of a home and a condominium unit. Such required disclosures are governed by Tenn. Code § 66-5-213(b). Outside of these required disclosures, a purchaser of a condominium unit may request additional information from the condominium association. It should be noted that the previously discussed information is…
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